Salt Lake-based maker of medical devices Rubicon Medical Corp. on Wednesday said it will shift its strategy to focus on high-growth, high-margin revenues through the development, manufacture and marketing of its own proprietary products.
Rubicon Medical develops and manufactures interventional vascular medical devices and products.
The company has been operating three business units: technology development and licensing; contract manufacturing; and equipment manufacturing. To support its growth objectives, the company will have its contract manufacturing and equipment manufacturing business units focus on the manufacture of its own proprietary product lines.
The company has already developed and licensed to Abbott Laboratories its proprietary Guardian system in a $14 million-plus deal, with additional royalties on net sales.
"Over the past several years, we have proven our ability to develop proprietary products, as well as our ability to provide world-class manufacturing services," said Richard J. Linder, president and chief executive officer. "It makes complete sense for us now to use our manufacturing capabilities to produce higher-margin proprietary products."